Costco Wholesale (COST) Downgraded by Citigroup

Costco Wholesale (NASDAQ:COST) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat reports. They currently have a $238.00 price target on the retailer’s stock, down from their previous price target of $257.00. Citigroup’s price objective would indicate a potential upside of 5.15% from the stock’s current price.

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 22nd. Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Thursday, September 6th. Finally, Oppenheimer lifted their price objective on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $237.08.

Costco Wholesale stock opened at $226.35 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. Costco Wholesale has a 1 year low of $175.79 and a 1 year high of $245.16. The stock has a market capitalization of $101.35 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same period last year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts expect that Costco Wholesale will post 7.71 earnings per share for the current year.

In other news, VP Richard A. Galanti sold 4,163 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total value of $945,958.49. Following the transaction, the vice president now owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W Craig Jelinek sold 22,500 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total transaction of $5,029,200.00. Following the completion of the transaction, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The disclosure for this sale can be found here. Insiders have sold a total of 61,312 shares of company stock worth $13,847,852 over the last 90 days. 0.58% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 35,457,639 shares of the retailer’s stock worth $8,328,292,000 after purchasing an additional 158,722 shares during the last quarter. BlackRock Inc. grew its stake in shares of Costco Wholesale by 3.4% in the 3rd quarter. BlackRock Inc. now owns 28,041,444 shares of the retailer’s stock worth $6,586,376,000 after purchasing an additional 919,651 shares during the last quarter. FMR LLC grew its stake in shares of Costco Wholesale by 0.5% in the 3rd quarter. FMR LLC now owns 10,618,916 shares of the retailer’s stock worth $2,494,171,000 after purchasing an additional 48,021 shares during the last quarter. Capital World Investors grew its stake in shares of Costco Wholesale by 12.0% in the 3rd quarter. Capital World Investors now owns 9,908,138 shares of the retailer’s stock worth $2,327,223,000 after purchasing an additional 1,064,167 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Costco Wholesale by 0.6% in the 2nd quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock worth $1,301,817,000 after purchasing an additional 37,778 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Analyst Recommendations for Costco Wholesale (NASDAQ:COST)

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